Forums: Discussions for entrepreneurs and small business.

Hello guys i had a question. I have a couple of huge ideas i mean heavy competition with google, iphone, micrsoft, truly innovative products. I am in the seed stage the only thing i am going to do is go apply for patents this friday.

 

Which would be a better funding source to protect my ideas from being stolen or copied. Business Accelerators/Incubators like this

http://www.obsidianlaunch.com/the-process.html 

Or go directly to Venture Capital Firms?

 

Because some of these seed incubator programs seemed a bit fishy, like you go there for 3-6 months and they help you with everything ect. they take a huge 2-10% ownership stake for such little funding.

 

Basically i guess what im asking is whats the best way to get funding and keep product information on the down low.

 

 

 

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There are a number of ways to bring capital into a company. Choosing the optimum one depends on several factors starting with how much capital will be required and when. From your information, i'd say that you're not far enough along to be a viable candidate for venture capital firms.

Accelerator's / incubators provide useful services and support for those companies that fit their profile. As for the "accelerator" you listed, I found it interesting that one of their requirements is for the entrepreneur to be able to launch the product without any outside capital.

Also, if patents are a integral to your business strategy - I would suggest engaging a experienced professional to help with them.

 

If you want to discuss your specific situation, in confidence, feel free to send me a PM or contact me directly.

 

 

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Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com

Gselsidi,

unfortunately, the only 'outside' investors that are going to give you what you consider 'fair value' for your idea at this point will be 'friends and family'.

why?

because they don't have the ability to accurately gauge what kind of risk a premoney deal is of *ever* having a liquidity event and paying them back :)

good luck with your venture. see you in the trenches.

As stated, your business model and requirements will point you in the right direction.  I also know that some incubators do not require a ownership stake in your business - so continue to look around and find better companies that are more about helping you than helping themselves - ALSO - DO YOUR HOMEWORK!

You might also consider angel capital - just google angel capital groups and find a company that fits.  While angels will take an equity stake - they also provide more hands on - opening many doors for your business.

You could also check out SBICs.  Just go to the SBA web site and search SBIC.

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Anyway, I belong to a community of investors. If your idea prove to be unique and interesting, I might be able to help you get some funding. Drop me a message if you think this is something we can work on.

Hello,

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Hi there - you seem to be bundling two things together with you question....one is "what is the best form of funding for my stage" ...and the other seems to be "How can I best protect my huge ideas...?"

The two are different. For example - you can file patents to protect your ideas but not only do you need to have them awarded (taking time and money) but you also need the time and money to defend them and determine who is infringing. Having been involved in the largest court case in Virginia state history relating to patent infringment (a product of mine was knocked of...) I can tell you that in my opinion, an entrepreneur needs to focus heavily on executing their idea in the marketplace as quickly as possible. So speed is key!

As for funding, if you are still at the idea stage then you may want to look at angels rather than VC.

Oh yeah....and another consideration, if you go into an incubator and they input into the product design and help you move it forward, they will often have a legal recourse to be consider part inventors....for that matter, if you sit in a bar, tell a friend about your idea and they give you a few ideas which you use...they too can claim some input into the intellectual property.  That said, don't get too hung up on keeping your ideas hugely secret...the real value of any idea is how you execute it in the real world...

Hope that helps...

Andrew

http://www.TheFundingGuru.com

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